Don’t let money troubles spoil Christmas

Reading folk are being urged not to let money worries spiral out of control and ruin their Christmas

Reading folk are being urged not to let money worries spiral out of control and ruin their Christmas.

It may be the season to be jolly but – according to new research by the Samaritans – 53 per cent of us worry about mounting debts and bills.

Worse still, 25 per cent of people in the town described 2009 their “worst year ever”.

The Reading branch of the Samaritans has been inundated with 5,000 calls this year from people struggling to manage their finances in the grips of the recession.

Reading Samaritans director Bernard Tomlin, based at offices in Cholmeley Road, East Reading, said: “In the last year, Samaritans received five million calls overall, and our branch answered 50,000.

“Many of them were about the worries identified in this survey, with approximately one in every 10 calls linked to financial stress.

“If people don’t talk about problems, they can build up over time and spiral into more serious emotional distress.

“Sharing troubles can be a relief and is often the first step to finding a way of coping.”

It is a similar story for Reading Credit Union (RCU), which offers free financial advice to help people on low incomes resolve their debts and start saving.

Based in London Street, Katesgrove, the union is open to anyone who lives and works in the borough and now has 490 members.

RCU chairman Stephen Magee said more people are turning to them for help.

“We are getting a significant number of new clients every week, and some of them are quite desperate,” he said.

“When we ask why they have come in, the answer is often, ‘We have got to pay for Christmas, but we have no spare cash.’ Often the issues started some months ago, but they have staved off the problem until now.”

He added: “The image of Reading as a wealthy place hides a lot. There are significant parts that are not.

“There are a lot of people who have found themselves out of work for the first time as well. If they come to us we will help them understand how better to manage their money and live on what they have, rather than get further and further into debt.”

RCU offers low cost loans to members and recently introduced a similar scheme for tradesmen struggling to get their hands on cash in these tough economic times.

- If you see something you think you want, wait a week and decide then - Don’t take your credit card shopping – pay by cash, cheque or debit card - Ask for a discount – shopkeepers have been hit by the credit crunch as well - Always write a shopping list before you go. Know what you need and don’t get tempted